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BlueCrest BlueTrend : BBTU – US Dollar share class to close around 17 July

BlueCrest BlueTrend’s US Dollar share class no longer meets the FCA’s ‘Shares in Public Hands Requirement’ following its tender offer (for both its Sterling and US dollar share classes). The remaining US Dollar shares, not purchased under the tender offer, are to be compulsory converted into Sterling shares.  The conversion will take effect on or around 17 July 2014 (expect a further announcement from the company on the exact timing) using a conversion ratio of US Dollar shares to Sterling shares of 0.582322. The conversion ratio has been calculated on the basis of the Net Asset Values of the share classes, as at 30 June 2014, adjusted to include the uplift in NAV per share resulting from the tender offer.

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